Islander and Medici trade the European open | Page 121 | Forex Factory

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Islander and Medici trade the European open

  • #2,401
  • Aug 26, 2010 6:53am Aug 26, 2010 6:53am
Quoting david4u
medici
In this trade were do you think you would have exited ?
I can see S/R A , so at 1, I can see a posibble exit of the short trade .
At 2 , price was above SMA20 , so not easy to hold ...

S/R B , at point 3 with a hammer like at MR1 lv , and at 4 with a confirmation of the hammer ...
So not easy to hold till next div in conlfuence with 1.2682 , that you have mentioned before (M30) , and to be able to close the short at 5 or at the next bar (6).
Looking forward to hear in opinion
Tks
David
The way I would have wanted to trade that would be to enter at 2745 as said earlier, and to double up at your point 2, and set stop to BE for total position. Then take half off at 3 and leave the rest for a possible break of level B.

How I'd actually done it? That would have depended on my general state and level of confidence. But worst case would have been enter at 2745 and take it off at 3.
  • #2,402
  • Aug 26, 2010 6:54am Aug 26, 2010 6:54am
Good Afternoon......dowside target area reached, now with this bullish divergence I'm looking for a buy off the 1 min chart
Attached Image (click to enlarge)
Click to Enlarge Name: cable aug 26 15m 1250 uk.gif Size: 14 KB
Trading Levels with WRBs
  • #2,403
  • Aug 26, 2010 6:57am Aug 26, 2010 6:57am
Quoting Islander
Good Afternoon......dowside target area reached, now with this bullish divergence I'm looking for a buy off the 1 min chart
Would have been my line as well, but in view of news in half an hour price might possibly hang around this area until then!?

EDIT: And the 5462-80 area is still in reach, so I'll wait a bit.
  • #2,404
  • Aug 26, 2010 7:03am Aug 26, 2010 7:03am
Quoting medici
Would have been my line as well, but in view of news in half an hour price might possibly hang around this area until then!?

EDIT: And the 5462-80 area is still in reach, so I'll wait a bit.
As €'s just held at its 50% retrace and I've got 1m & 5m bullish dvg, I took a small buy at the 1m 30 ema just in case they've already started buying.....TWT stop at BE +1, so its a freebee http://cdn.forexfactory.com/images/icons/icon7.gif
Trading Levels with WRBs
  • #2,405
  • Aug 26, 2010 7:04am Aug 26, 2010 7:04am
Quoting medici
Thanks. NIce chart. And in my parlance that was CI reverse divergence at close to 3 SDs from the 20SMA at the old battleline 5553, so you enter at that level without thinking twice. And not once either for that matter.
Cheers the more I follow this thread the more I get a feel for good areas to take trades with fibs,S/Rs ect.
Although don't really think after 8 months of trading I should just jump in without atleast a LH/HL bar as they are waht I have got so used to trading.

Another thing I am finding is the more I learn about good areas to take trades I won't always need a bigger TF with me to take a trade as I get more confident.

Also I do always use the CI just don't post it with charts.
  • #2,406
  • Aug 26, 2010 7:06am Aug 26, 2010 7:06am
Quoting Islander
As €'s just held at its 50% retrace and I've got 1m & 5m bullish dvg, I took a small buy at the 1m 30 ema just in case they've already started buying.....TWT
Good thinking, but there might be a spike down to start off the show.

Quote

stop at BE +1, so its a freebee http://cdn.forexfactory.com/images/icons/icon7.gif

Are you lucky enough to be with a broker/dealer who fills you at stop level on gaps down? Generous people if so.
  • #2,407
  • Aug 26, 2010 7:20am Aug 26, 2010 7:20am
Quoting medici
Good thinking, but there might be a spike down to start off the show.



Are you lucky enough to be with a broker/dealer who fills you at stop level on gaps down? Generous people if so.
no such luck, so I'll probably close before the news, if my stop hasnt already done so
Trading Levels with WRBs
  • #2,408
  • Aug 26, 2010 7:21am Aug 26, 2010 7:21am
Quoting Islander
no such luck, so I'll probably close before the news, if my stop hasnt already done so
That's what I'd do if I had entered for a few. Just not worth it. I'll save the ammo for the big game.
  • #2,409
  • Aug 26, 2010 7:38am Aug 26, 2010 7:38am
Quoting medici
That's what I'd do if I had entered for a few. Just not worth it. I'll save the ammo for the big game.
I did get out manually for a few.....data not far out from expectations...

2010.08.26 14:33:40 MARKET TALK: Jobless Claims Fall More Than Expected 31K; But Job Growth Weak

Plenty of volume in the last 5m candle, now 1.5 hours till the Mortgage Delinquencies - now that might be interesting, I read a couple of days ago that these were rising fast....
Trading Levels with WRBs
  • #2,410
  • Aug 26, 2010 7:42am Aug 26, 2010 7:42am
Quoting Islander
I did get out manually for a few.....data not far out from expectations...

2010.08.26 14:33:40 MARKET TALK: Jobless Claims Fall More Than Expected 31K; But Job Growth Weak

Plenty of volume in the last 5m candle, now 1.5 hours till the Mortgage Delinquencies - now that might be interesting, I read a couple of days ago that these were rising fast....
Yep, next oppty...

I have a mate in California who specialises in bad mortgages. He buys properties from the banks for cash after eviction, refurbishes and re-sells. He makes tonnes of money....six figures a month. Kind of a vulture business. Feels better to steal money through the fx market instead
  • #2,411
  • Aug 26, 2010 8:38am Aug 26, 2010 8:38am
Quoting medici
Yep, next oppty...

I have a mate in California who specialises in bad mortgages. He buys properties from the banks for cash after eviction, refurbishes and re-sells. He makes tonnes of money....six figures a month. Kind of a vulture business. Feels better to steal money through the fx market instead

LOL - the olnly problem is that fx money is rather "slippery"

€ had a high vol selling climax into a slightly LL, but with +ve dvg.....cable similar with MR2 holding again, so I'm aboard the north bound train.....will it turn into an express?.....TWT
Trading Levels with WRBs
  • #2,412
  • Aug 26, 2010 8:43am Aug 26, 2010 8:43am
Quoting Islander
LOL - the olnly problem is that fx money is rather "slippery"

€ had a high vol selling climax into a slightly LL, but with +ve dvg.....cable similar with MR2 holding again, so I'm aboard the north bound train.....will it turn into an express?.....TWT
Haha. Do you think we could be headed to 15566 I supose it will depend on the news?
15536 seems like it is strong S/R would be good to see it clear that area.
  • #2,413
  • Aug 26, 2010 8:43am Aug 26, 2010 8:43am
Central banks spotted buying EUR dips again

Central banks have raised the base of their buying range today. From the 1.2600 area earlier in the week, they are now happy to buy at somewhat higher levels. They continue to sell strength however, keeping us essentially range-bound. Offers lie in the 1.2730/50 window.

Profit stops in place and again I'll probably close before the data...the last figure was 10.06%
Trading Levels with WRBs
  • #2,414
  • Aug 26, 2010 8:45am Aug 26, 2010 8:45am
Quoting reflex
Haha. Do you think we could be headed to 15566 I supose it will depend on the news?
exactly, and my crystal ball's in for a refurb....
Trading Levels with WRBs
  • #2,415
  • Aug 26, 2010 9:05am Aug 26, 2010 9:05am
Quoting Islander
exactly, and my crystal ball's in for a refurb....
Lol was your entry off of the 1min I saw the one on the 5min.
Attached Image (click to enlarge)
Click to Enlarge Name: 2010-08-26_1505.jpg Size: 154 KB
  • #2,416
  • Aug 26, 2010 9:30am Aug 26, 2010 9:30am
SVCHOST.EXE taking over again, and reboot.... very good timing
  • #2,417
  • Aug 26, 2010 9:40am Aug 26, 2010 9:40am
Quoting reflex
Lol was your entry off of the 1min I saw the one on the 5min.
NP - they both gave profits - but the best entry and chart was once again the euro.

A high vol - selling climax - marubozo down to the DP / days open level.

The small green inside candle turned this into a harami, so a buy with +ve dvg

Now we're at the MR2 level with -ve dvg...
Attached Image (click to enlarge)
Click to Enlarge Name: aug 26 eur 5m 1440 gmt.gif Size: 20 KB
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  • #2,418
  • Edited 9:54am Aug 26, 2010 9:50am | Edited 9:54am
Quoting Islander
NP - they both gave profits - but the best entry and chart was once again the euro.

A high vol - selling climax - marubozo down to the DP / days open level.

The small green inside candle turned this into a harami, so a buy with +ve dvg

Now we're at the MR2 level with -ve dvg...
Cheers for the chart and explanation.
I have never looked at the euro as I want to master one (cable) before I move on.
I think I am done for the day am off to the gym.
Thanks for the charts and explantions Islander,Medici,Vantage and all.
  • #2,419
  • Aug 26, 2010 9:54am Aug 26, 2010 9:54am
Quoting reflex
Cheers for the chart and explanation.
I have never looked at the euro as I want to master one (cable) before I move on.
I think I am done for the day am off to the gym.
Thanks for the charts and explantions Islander,Medici and all.

You're welcome - I feel a swim and a cold Coronita coming on......BFN
Trading Levels with WRBs
  • #2,420
  • Aug 26, 2010 9:56am Aug 26, 2010 9:56am
Quoting medici
SVCHOST.EXE taking over again, and reboot.... very good timing

Whilst I dont understand what that does, I do understand that when it doesn't do it, its a royal PIA......http://cdn.forexfactory.com/images/icons/icon11.gif
Trading Levels with WRBs
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